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JPMorgan Sees 3,000 More Job Cuts in Card, Mortgage Units

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JPMorgan Chase & Co., the biggest U.S. bank, said it’s on track to eliminate 3,000 more jobs this year than previously forecast in its mortgage and credit-card divisions.

The company expects about 4,000 reductions in its card, merchant-services and auto unit, up from about 2,000 previously announced, the New York-based bank said today in a Web presentation. Mortgage banking will achieve about 7,000 reductions, compared with a prior forecast of about 6,000.